no change here. Bitcoin has devastated this asset:

http://i.imgur.com/dLlQyi1.png

https://www.goldbroker.com/en/news/paper-silver-market-250-times-size-physical-silver-market-526

What would you think happens when the 'tie' breaks, real is real, paper is worthless.

Think of a scenario, let's say a position of metric ton of pure silver. Will have some value

They can always paper over the paper with more paper. Besides, silver is mostly worthless other than as a speculation.

You havent do your homework dude.
https://images.angelpub.com/2014/08/23250/silver-usage-pie-chart.png

Most of the silver used in industry cannot be recycled.